Remuneration report - Unilever
Remuneration report - Unilever
Remuneration report - Unilever
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Report of the <strong>Remuneration</strong> Committee<br />
(continued)<br />
Executive Directors’ conditional share awards under the TSR Long-Term Incentive Plan<br />
Conditional rights to ordinary shares in NV and PLC were outstanding, granted or vested/lapsed in 2005 as shown in the table below:<br />
Balance of Conditional award Conditional awards Balance of<br />
conditional made 21 March 2005 lapsed 21 March 2005 conditional<br />
shares (Performance period (Performance period shares at<br />
at 1 January 2005 to 2007) (1) 2002 to 2004) (2) 31 December<br />
2005 Market Original 2005<br />
Share No. of No. of Price at No. of price price No. of<br />
Name type shares shares award shares at vesting at award shares<br />
Current Executive Directors<br />
Patrick Cescau NV 12 895 7 890 €50.70 (3 737) €50.70 €66.90 17 048<br />
PLC 87 306 54 960 505p (26 450) 505p 583p 115 816<br />
Kees van der Graaf NV 7 739 4 931 €50.70 (2 243) €50.70 €66.90 10 427<br />
PLC 52 376 34 352 505p (15 870) 505p 583p 70 858<br />
Ralph Kugler (3) NV 10 427 10 427<br />
PLC 70 858 70 858<br />
Rudy Markham NV 12 895 4 931 €50.70 (3 737) €50.70 €66.90 14 089<br />
PLC 87 306 34 352 505p (26 450) 505p 583p 95 208<br />
Position changed in 2005<br />
Antony Burgmans NV 20 634 (5 980) €50.70 €66.90 14 654 (4)<br />
PLC 139 680 (42 319) 505p 583p 97 361 (4)<br />
Former Executive Directors (2005)<br />
Clive Butler NV 12 895 (3 737) €50.70 €66.90 9 158 (4)<br />
PLC 87 306 (26 450) 505p 583p 60 856 (4)<br />
Keki Dadiseth NV 12 895 (3 737) €50.70 €66.90 9 158 (4)<br />
PLC 87 306 (26 450) 505p 583p 60 856 (4)<br />
André van Heemstra NV 12 895 (3 737) €50.70 €66.90 9 158 (4)<br />
PLC 87 306 (26 450) 505p 583p 60 856 (4)<br />
(1) The end date of the performance period in respect of the conditional award made in 2005 is 31 December 2007.<br />
(2) The conditional awards made in 2002, which vested in 2005 were based on the TSR performance of <strong>Unilever</strong> (when ranked against its<br />
defined peer group) over the three-year performance period ending 31 December 2004. For this period, <strong>Unilever</strong> was ranked 13 out of its<br />
peer group and therefore no vesting occurred for this award in March 2005 and the awarded shares of the award 2002 lapsed.<br />
(3) Balance of conditional shares as from the date of appointment as Executive Director. Awards and vestings before are included in the balance.<br />
(4) Stepped down as Executive Director in May 2005. Balance is at May 2005.<br />
TSR ranking of <strong>Unilever</strong> shares against its defined peer group of companies for period 2003 to 2005<br />
The following graph shows <strong>Unilever</strong>’s position relative to the TSR peer group of companies for each of the three performance periods<br />
ending 31 December 2003, 2004 and 2005.<br />
<strong>Unilever</strong>’s position relative to the TSR reference group<br />
7<br />
14<br />
21<br />
2003 2004 2005<br />
The reference group, including <strong>Unilever</strong>, consists of 21 companies. <strong>Unilever</strong>’s position is<br />
based on TSR over a three-year rolling period.<br />
62 <strong>Unilever</strong> Annual Report and Accounts 2005